Paralel Advisors LLC Makes New Investment in Maplebear Inc. $CART

Paralel Advisors LLC purchased a new stake in Maplebear Inc. (NASDAQ:CART) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 700,000 shares of the company’s stock, valued at approximately $33,145,000. Maplebear makes up about 1.3% of Paralel Advisors LLC’s portfolio, making the stock its 16th largest holding.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Maplebear during the second quarter worth about $750,477,000. State Street Corp raised its stake in Maplebear by 1.0% in the fourth quarter. State Street Corp now owns 5,461,637 shares of the company’s stock valued at $245,664,000 after purchasing an additional 54,872 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Maplebear by 31.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,981,960 shares of the company’s stock valued at $186,618,000 after purchasing an additional 1,189,287 shares in the last quarter. Viking Global Investors LP bought a new stake in Maplebear during the second quarter valued at approximately $169,782,000. Finally, Geode Capital Management LLC lifted its position in Maplebear by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,526,124 shares of the company’s stock valued at $158,640,000 after purchasing an additional 54,010 shares during the last quarter. Institutional investors own 63.09% of the company’s stock.

Maplebear Price Performance

NASDAQ:CART opened at $51.07 on Friday. The business has a 50 day moving average of $46.44 and a 200 day moving average of $41.61. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 0.75 and a beta of 0.78. Maplebear Inc. has a 1-year low of $32.73 and a 1-year high of $51.82.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). Maplebear had a net margin of 11.97% and a return on equity of 20.19%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Maplebear Inc. will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

CART has been the subject of a number of research reports. Citigroup boosted their price target on shares of Maplebear from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Guggenheim raised their price objective on shares of Maplebear from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Maplebear from $55.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. BNP Paribas Exane upgraded shares of Maplebear from an “underperform” rating to a “neutral” rating and set a $56.00 target price for the company in a research report on Friday, August 7th. Finally, Wall Street Zen cut Maplebear from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.90.

Insider Buying and Selling at Maplebear

In other news, Director Ravi Gupta sold 181,000 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $41.51, for a total value of $7,513,310.00. Following the completion of the sale, the director owned 741,523 shares of the company’s stock, valued at approximately $30,780,619.73. This represents a 19.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 24.00% of the company’s stock.

Maplebear Company Profile

Maplebear, Inc, doing business as Instacart, operates a leading online grocery and essentials marketplace that connects consumers, retail partners and personal shoppers through its digital platform. The company enables customers to order groceries, household items and specialty products for same-day or scheduled delivery, as well as in-store pickup. By integrating its technology with retailers’ existing inventory and point-of-sale systems, Maplebear streamlines the shopping experience and provides real-time availability and pricing.

Founded in 2012 and headquartered in San Francisco, Maplebear has grown from a regional startup to a publicly traded company listed on NASDAQ under the ticker CART.